ProShare Advisors LLC Invests $678,000 in Pinterest, Inc. $PINS

ProShare Advisors LLC purchased a new position in shares of Pinterest, Inc. (NYSE:PINS) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 26,204 shares of the company’s stock, valued at approximately $678,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Atlantic Union Bankshares Corp lifted its holdings in shares of Pinterest by 3,839.1% during the third quarter. Atlantic Union Bankshares Corp now owns 906 shares of the company’s stock worth $29,000 after purchasing an additional 883 shares during the period. Elevated Capital Advisors LLC acquired a new position in Pinterest in the fourth quarter valued at approximately $26,000. Whittier Trust Co. of Nevada Inc. increased its position in shares of Pinterest by 46.0% in the third quarter. Whittier Trust Co. of Nevada Inc. now owns 1,330 shares of the company’s stock valued at $42,000 after buying an additional 419 shares in the last quarter. Fifth Third Bancorp increased its position in shares of Pinterest by 2,409.1% in the third quarter. Fifth Third Bancorp now owns 1,380 shares of the company’s stock valued at $44,000 after buying an additional 1,325 shares in the last quarter. Finally, Garner Asset Management Corp purchased a new stake in shares of Pinterest in the fourth quarter valued at approximately $36,000. Institutional investors and hedge funds own 88.81% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently commented on PINS. Weiss Ratings downgraded Pinterest from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Thursday, April 2nd. Rothschild & Co Redburn set a $23.00 target price on Pinterest and gave the stock a “neutral” rating in a research note on Monday, April 27th. Benchmark cut their target price on Pinterest from $34.00 to $33.00 and set a “buy” rating for the company in a research note on Thursday, April 30th. UBS Group increased their price target on Pinterest from $29.00 to $30.00 and gave the stock a “buy” rating in a report on Tuesday, May 5th. Finally, HSBC cut Pinterest from a “buy” rating to a “hold” rating and set a $24.90 price target for the company. in a report on Friday, January 30th. Sixteen analysts have rated the stock with a Buy rating, eighteen have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Pinterest has a consensus rating of “Hold” and an average price target of $27.40.

Insider Buying and Selling at Pinterest

In other news, Director Gokul Rajaram sold 2,100 shares of the firm’s stock in a transaction dated Wednesday, April 15th. The stock was sold at an average price of $20.00, for a total transaction of $42,000.00. Following the sale, the director owned 27,450 shares of the company’s stock, valued at approximately $549,000. This trade represents a 7.11% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 4,200 shares of company stock worth $84,000. 8.09% of the stock is currently owned by company insiders.

Pinterest News Summary

Here are the key news stories impacting Pinterest this week:

• Positive Sentiment: Zacks published a bullish note calling Pinterest a top long-term value stock, which may support the stock by reinforcing the company’s appeal to value-oriented investors. Article Title
• Neutral Sentiment: Director Gokul Rajaram sold 1,050 shares in a pre-arranged Rule 10b5-1 transaction, a routine insider sale that is not necessarily a negative signal, though investors may still view it cautiously. Article Title
• Negative Sentiment: Several firms, including Rosen, Bernstein Liebhard, Schall, DJS, Pomerantz, Bragar Eagel & Squire, Portnoy, and Gross Law Firm, have publicly pushed the securities-fraud class action against Pinterest, keeping legal overhang front and center for shareholders. Article Title

Pinterest Price Performance

PINS stock opened at $20.04 on Thursday. The company has a debt-to-equity ratio of 0.34, a current ratio of 4.23 and a quick ratio of 4.23. Pinterest, Inc. has a 1 year low of $13.84 and a 1 year high of $39.93. The firm has a market capitalization of $11.23 billion, a P/E ratio of 41.76, a P/E/G ratio of 1.05 and a beta of 0.93. The business’s 50-day moving average is $19.32 and its two-hundred day moving average is $22.03.

Pinterest (NYSE:PINS) last issued its earnings results on Monday, May 4th. The company reported $0.27 earnings per share for the quarter, topping the consensus estimate of $0.22 by $0.05. Pinterest had a return on equity of 8.26% and a net margin of 7.64%.The business had revenue of $1.01 billion for the quarter, compared to analyst estimates of $965.84 million. During the same quarter last year, the company earned $0.23 EPS. The business’s quarterly revenue was up 17.8% on a year-over-year basis. Analysts anticipate that Pinterest, Inc. will post 0.68 earnings per share for the current fiscal year.

About Pinterest

Pinterest, Inc operates a visual discovery platform that helps users find inspiration and ideas for projects ranging from home design and fashion to cooking and travel. Users create and curate “Pins” — images or videos linked to content — organized on thematic boards. The service is available through its website and mobile applications and emphasizes personalized recommendations and visual search to surface relevant content based on user interests.

The company’s primary revenue model is advertising, offering promoted content formats that integrate into user feeds and search results.